Nixxy, Inc. (NIXX): M&A transaction — Recruiter.com closes sale of website to Job Mobz for $1.39M; settles $720K debt with 720K shares

Nixxy, Inc.

Completed sale of www.recruiter.com and associated IP to Job Mobz for total cash consideration of $1,393,430.
$1,379,496 allocated to close out Master Referral Agreement; $13,934 for IP acquisition.
Repaid senior debt: $684,552 cash to Montage; issued 720,000 shares to settle $720K remaining balance.
CEO Granger Whitelaw says transaction strengthens balance sheet and provides flexibility for future initiatives.
Investor communications transitioning over next 30 days due to website sale; new investor site to be launched.

item 1.01 item 2.01 item 3.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Nixxy, Inc. completed a disposition involving Job Mobz, Inc. for $1,393,430 (closed 2024-09-24).

Action: disposition
Counterparty: Job Mobz, Inc.
Consideration: $1,393,430
Closing: 2024-09-24

Exact text from the filing

the terms set forth in the Asset Purchase Agreement dated August 16, 2023. Final Transaction Details: 1. Cash Consideration : The Company received a final cash payment of $1,393,430, representing the complete settlement of all cash obligations related to the transaction as outlined in the Purchase Agreement and the Master Referral Agreement. 2. Allocation of

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Nixxy, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-24-012243

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